The initial meeting is to get a financial understanding of your needs, concerns and objectives while identifying the obstacles you face in trying to achieve your goals. At this meeting we will also discuss our philosophy, explain in detail how we work with you, review our services, outline our fee/commission structure, and answer any questions you may have.
Gathering Data and Goals
After the discovery meeting, should you want to move forward, a data collection form will be given and you will complete in as much detail as possible. This document will be the starting point for all future planning. This form can include information related to: Property, Investments, Retirement, Business Assets, Liabilities, Income, Expenses, Current Estate Plan, Goals and Risk Tolerance.
Mutual Commitment Meeting
At this meeting we use the data collected to analyze your financial needs, and assist you in developing realistic goals and objectives based on information provided. We may also clarify planning problems and outline strategies designed to meet your goals. At this stage we typically enter into a mutual agreement to perform a comprehensive plan which could include such topics as investments, taxes, insurance, retirement, estate planning, education funding, insurance analysis, among other subjects. You may also engage us for singular projects that may require annual or more frequent reviews if more complex long-term planning is needed.
We are now ready to prepare a written report on a specific project, or comprehensive plan, in the scope requested by you based on the information and needs analysis gathered during our previous meetings. The plan may include establishing a clear set of objectives, an outline of resources, a written investment policy statement, an asset allocation model, strategy recommendations, retirement, estate, education, or insurance planning and product recommendations. In order to complete the plan we may request to speak with your professional team which could include a CPA, tax advisor, attorney(s), or other counselors. If you do not have these resources and we deem these resources important, we can make recommendations.
Review Recommendations and Action Plan
When the entire plan has been finalized and assembled, a planning meeting is scheduled to review the data analysis and recommendations. Any final tweaking to the plan takes place at this time. We then assist you in implementing the plan
Monitoring Progress on an Ongoing Basis
We review the plan periodically in timeframes that are agreed upon by all parties. However, during the first year, it is strongly suggested that we meet at least quarterly to monitor the implementation and answer any questions that may come up. After the first year regular follow-up meetings are scheduled to review the progress in reaching your financial goals, to update changes in the tax and investment environment, and to discuss new or changed objectives.